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to talk about that policy and talk about the current state of the economy. our other special guest will be former florida governor jeb bush. i'm going to ask him about the civil war in the republican party and how to solve it. all that and more on a special edition of "the kudlow report." we are live from washington, d.c. tonight and we begin right now. >>> good evening, everyone. i'm larry kudlow. this is "the kudlow report." we are live, 7:00 p.m. eastern, 4:00 p.m. pacific time. we are in washington, d.c. top stories, continuing failure that is obama care tops the news tonight. we begin with a breaking story from our colleagues at nbc news. four stories deeply involved in the crafting of the affordable care act tell nbc news that most of the 14 million americans that have their own health insurance will have their insurance cancelled as a result of obama care. the report says the white house has known this will happen for at least three years. and that means that the repeated promises made by president obama and others about keeping your own health plan were just not true for mi
economy. >> your dollar will be worth just this much tomorrow as it is. >> the dollar as low as 96% of its value. >> not everybody likes it. i think it will -- >> is a pretty unlikely possibility. we have never had a decline of house prices on a nationwide basis. >> we have also said that there not printing money, but they do. now she will be in charge. >> the number one most important economic decision i will make. john: probably the mossecond powerful job in the world, yet people don't know what it is. the fed. >> i don't know. john: a small group of old, white people who get to spend trillions of your dollars in secret. >> no secret to ball of government officials should have the authority to create money out of thin air. john: are you fed up with the fed? that's our show tonight. ♪ >> and now john stossel. john: i have done hundreds of tv shows, but there is one topic i have always avoided, the fed. i know is important, more so than most of what i cover, but it is so complex injury. people in charge even work at being tall. alan greenspan called it fed speech and tried to be obscure
somebody to foster conditions for a healthy economy. >> really? your dollar will be worth just as much tomorrow as it is today. >> the dollar lost 96% of its value. >> he said housing prices wouldn't crash. >> pretty unlikely possibility. never declined house prices on an admission wise basis. >> he said, they're not printing money. but they do. now she's going to be in charge. >> it is definitely one of the most important economic decisions i will make. >> it is one of the most important jobs in the world but the people don't know what it is. >> the fed, i don't know. >> the fed is small group of old white people who get to spend trillions of your dollars in secret. >> no secret of our government officials should spend money out of thin air. >> are you fed up with the feds? that's our show, tonight. >> i've done hundreds of tv shows. but there's one topic i've always avoided. the fed. i know it's important. more important than most stuff i cover but it is just so complex and dreary. people in charge even work at being dull. alan greenspan calls it fed speak, said he tried to be obscur
to foster conditions for a healthy economy. >> really? >> your collar bb juworth as mu tomorrow than tz today. >> he has been in charge for a while. >> not everybody likes it. will i think it's good. >> he said housing prices wouldn't crash. >> never had defined house crisis on a nationwide basis. >> she is going to be in charge. >> one of the most important economic decisions i will ever make. >> probably the second most powerful job in the world. people don't know what it is. >> the fed is a small group of old white people who get to spend trools of your dollars in secret. >> no secret law government officials should have employees out of thin air. >> are you fed up with the fed? that's our show tonight. >> now john stossel. >> i have done hundreds of tv shows. there's one topic i have always avoided. the fed. it is so complex and dreary. the people in charge even work at being dull. some call it fed speech because he didn't want to spook the markets or kiss his hand about the fed's plan. bernanke and gel len are also. ment it could destroy your saving, effect whether you have a job o
economy and population is growing rapidly. so is the amount of trash and that's creating a problem. this is the only disposal site in the city. 1,500 tons of garbage is dumped at the site every day. at this rate, the site will be full in a few years. as the city searches for ways to handle all of the trash, a waste recycling company from kitakyushu city in western japan has started operating here in march. workers efficiently sort recyclable waste. like plastic and metal and items for composting. as a result the amount of garbage dumped has dropped by 50%. new jobs have been created as well. this man is a sales representative for the recycling company. he says the indonesian waste and recycling market offers great business opportunities. >> reporter: all waste used to be buried at the site. in japan, a lot of it would have been recycled. now the recycling gets done and locals earn money. there are many business opportunities here. >> reporter: the kitakyushu city government also supports the company's expansion into surabaya. for ten years the japanese city has also advised surabay
down, hitting the entire economy. second, robust home sales with increase demand in the larger economy. housing has these tent identicals that go far beyond housing, carpentry, lumber, furnishings, pickup truck sales to contractors. moving in a new home comes with additional spend on the ground home improvement, big tickest purchases, furniture, applieses. housing over the last year has helped to boost sales at building and garden reply. by 7.6%. that's just an example. most homes told in this country are used homes, exit are homes as we call them. a small percentages of new homes, new home construction creates a lot of jobs, in september we saw 20,000 construction jobs add today the economy in an otherwise disappointing employment report. a drop in pending home sales could reverse the gauges. of the 9 million jobs lost in the last reception, more than a million of them were in-housing and scan instruction alone. so whether or not you are about to buy or sale a home right now. coming slow down in america's housing market should concern you. but right now, by the way, you have enough to
about your health at 23andme.com . >>> as the government shutdown risking pulling the entire economy down, to read the front page of u.s.a. today, the hanover is all here, but jim isn't buying it. the argument is something like this. the debt 26 to 28 billion-dollar to the company, reverberates, stops the yuletide sales, stops us in our tracks. you don't necessarily agree. >> neil, who are they trying to kid? we have seen several months in a row of lousy, barely there jobs numbers there and parttime jobs instead of fulltime jobs. retail sales have been slipping for several months. we have had property, plant and equipment investment disappear over the last two years, even the housing market, the bright spot of the recovery, has been coming off for the last several months. now, several mocks into the slow down, they want us to believe a two-week shutdown because a difference functional washington is going to disrupt the consumer christmas season? it's already been disrupted by bad behavior on the fiscal side, and if you don't believe me, ask the federal reserve word, they're printing
.1%. >> yes. i don't think the euro's strength is every about european economy. it's more about the european similarity with japan. it's five times as big as chinas or japan's. . that's the driver. interest rates and market rates, yes, it's traded 120, 140 for a lot of the last few years. we're at the top end of that rate. >> is there a prospect that we've got -- i've seen this coming up, this q eternity. are we in the land of q eternity? >> it's a fear for a lot of people in the sense that the first attempt at unwinding any qe at all -- >> backed off. >> this is kind of, i don't know, the justification for never giving up, whether it's cigarettes, coffee, or alcohol or whatever it is people don't give up. i'm addicted to this and i'm going to have to keep on going. i think that would be a huge mistake. i think they should have tapered in september. maybe they knew what was going to happen to the politics. they should taper as soon as it's safe, but the only reason for q eternity is if the u.s. economy and the world economy is doomed to a horrible future. i refuse to give into that thought.
, the spectrum is a taxpayer-owned resource. and we believe it benefits the economy, benefits society as a whole if you have access to that resource in a way that is to the benefit of the consumer. >> recently, at&t agreed to voluntarily work towards interoperability in the 700 megahertz spectrum band which would allow your members' customers to roam on at&t's network and also allow your members to begin building out their lte device portfolio, the if you will. >> guest: right. >> tell us about how this will, how in this will affect your members going forward. is this a good solution at this point in. >> guest: i think it's a very positive solution. i might quibble with you a little on voluntarily made the decision to move forward. i tell you, a lot of credit goes to chairwoman clyburn. i mean, had she not said that there's going to be a solution one way or the other and literally rolled up here sleeves, got in the middle of it, really a display of leadership to find a solution that was business-based solution that would allow these smaller carriers to unleash the spectrum that they had already
for this country. if it was not for the minds and miners we would not have the economy or the country we have. we would not be the best economy in the world. they give us dependable and affordable energy. the thing i have a hard time here in washington fighting and , making people understand that coal is still part of the mix. the largest part of our energy mix. do not make it more difficult. help me find the technology that would continue to clean up the environment. would've done more in the last two decades than ever before in the history. we can even do more. we like to think we have a partner. in west virginia, our government is working against us. i think they are, too. i am trying to get every door open that i can work with. i'm not going to sit back and not to let them know what we do and how hard we do and how much energy we provide for this country. and some the best coal in the world comes from west virginia. we do not mind heavy lifting. we will do the heavy lifting. we would like for somebody to recognize and appreciate. >> based on all of that, you're been washington for a couple of
the government to handle one- sixth of the economy when there is this type of staggering incompetence on the roll out. >> the problem that marsha blackburn wondering about the affect on the economy the longer it goes on. good day to you, melissa. how much does it hurt if we go over months of this and young people just simply refuse to sign up? >> it hurts a lot. this is one of the key groups that will have to pay for the plan. they are young healthy young people and go on and buy insurance and pay in and get nothing out. they are thought, they don't need insurance now and health care. so we need those people to sign up to pay for the rest. they are people in the 20s and 30s who are used to going on the iphone and purchasing something on amazon in a click of a finger. you heard people trying 20 different times and not able to enroll and someone created an account in the first day and hasn't been able to log back in. they are likely to sit on the sidelines as long as they possibly can and either pay the fine or not sign up. >> we hear it all of the time. young people have to buy n. if they don't bu
should teach your children chinese but that they get will be a economy to deal with. >> we're talking about a tesla and how they may bring and a location and china. >> there passible stock- tested store is the they do not have the charges and capabilities. that may be very problematic. they want to get in last 10, south america but until their infrastructure is in place they're going nowhere fast. >> we were talking about starbucks and their tight end with twitter. >> congratulations to starbucks. i think they have came up with the promotions. it is called twitt your coffee. you can pay $5 to link this and they will give you a $5 credit, if you twitt me bin you get a free coffee. i like the concept of this. they want to get into mobile more. they're showing that plants like this will work. this is a key to their long-term success. >> let's talk about eight m.amc. >> they bought a company and that would give them exposure in latin american. they have a lot of good shows. they could do the shows and spanish. they're trying to increase their exposure so that to get more revenue. netflix
small grow the economy. >> mr. speaker, new research shows that his government is trapping low earning aspirant parents on benefits. andping parents working costing the taxpayer. isn't it time for a rethink? thee know labor are against benefit cap. labor wants unlimited benefits for families. they're no longer the labour party, they are the welfare party and it is very clear from the question that they are. we think it is right to cap benefits because no family can earn more out of work than they can earn in work. the early evidence is showing that this is encouraging people to look for work area for a party that believes in hard- working people, that is good news, presumably for the welfare party that is bad news. >> the prime minister will be ofre of the business model the not-for-profit company responsible to its consumers and not turn shareholders. does a prime minister agree that such a company in the energy supply sector would introduce real competition? competition in the energy sector, whether that comes from private businesses are cooperative businesses or as he says charitabl
minister commit to supporting the small businesses to help us grow the economy? >> my honorable friend is quite right. my honorable friend is just talk about helping people back into jobs, he set up a jobs club in his constituency which is in huge amount to bring businesses large and small together with those who want jobs. that is sort of action on the ide of house that's the sort of social action on this side of the house that we believe in. >> i want to talk about the about the situation with crosby. prime minister, i have served in this house under four previous prime ministers who reply to members' letters. >> order. this will be heard with some courtesy, as i expect of all questions. very simple and very straight-forward. >> i have served to four previous prime ministers who reply to letters. why don't you? >> i will reply right now. public health is a matter of public health. linden's responsibility is the labor party. >> order! >> order. i thank the prime minister and colleagues. >> british prime minister david cameron answers questions from members of the house of commons live
american workers furloughed, $24 billion to the economy for no reason. they're betting on we have short memory. i'm voting we'll have long lines waiting to vote and vote for the interests of the american people. thanks for watching. i'm al sharpton. "hardball" starts right now. >>> the wacko birds go pheasant hunting. let's play "hardball." ♪ . >>> good evening. i'm chris matthews in new york. let me start tonight with this. halloween is about pretend goblins. we can laugh at what we're afraid of. ghosts, monsters, tea partiers. but ted cruz is for real. he's not just a nightmare but out there this weekend in the broad scary daylight of iowa. he's saying he has nothing to be afraid of. he denies he caused serious economic damage with the government shutdown even though economists who deal in real numbers say he did. he said the real demons are those moderate republicans who finally ended the shutdown on the edge of the government default. senator cruz is the right wing zealot of the season. his attacks were relentless and have stirred resistance to the health care program. he ha
. that is because we're living in obama's economy. if you actually had a growing economy with economic growth policies in place, this economy would be booming and you wouldn't have this kind of issue. so instead of going after mcdonald's as employer, go after the president and this government. melissa: sit tight, sit tight, hang on, up next, in case you didn't know the reason you're miserable at work isn't because you're overloaded. it is because your boss is a nightmare and we have stats to prove it. part two of our money talker. hear big questions coming out of the health care website horrors. why are ceos so clue le r countless about technology? we have harvard professor robert cap plan. stick around, guys. at od, whatever business you're in, that's the business we're in. with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. they're the days to take care of business.. when possibilities become reality. with centurylink as your trusted partner, our visionary
. as your life and career change, fidelity is there for your personal economy, helping you readjust your retirement plan along the way, rethink how you're invested, and refocus as your career moves forward. wherever you are today, a fidelity i.r.a. has a wide range of investment choices to help you fine-tune your personal economy. call today, and we'll make it easy to move that old 401(k) to a fidelity i.r.a. >> miller: there may be no period that so dramatically redefined the world of u.s. intelligence than the decade following the september 11 attacks. through those tumultuous years, there was one man who was in the room for almost every important decision. mike morell was deputy director of the c.i.a., and gave us the only television interview he's ever done. he spoke to us, largely because he believes the very nature of the spy business keeps successes in the shadows, but often pushes failure into the bright lights. morell operated in those shadows, but his insights have helped shape the key foreign policy decisions of the last three presidents. the first thing we asked morell about
the burns. just one pepcid® complete works fast and lasts. >>> it could take until march for the economy to fully recover from the effects of the 16-day government shutdown. in a new "usa today" survey of top economists, 63% say the repeated budget battles over the past few years have hurt the economy some or a lot. one economist says, quote, we're falling down a fiscal flight of stairs and we're bouncing from one step to the next, one crisis to the next. it's been estimated the shutdown cost the u.s. economy $24 billion, but at least taxpayers will get some of that back. the labor department says federal workers who collected unemployment benefits will have to give the money back since they will be getting paid retroactively. >>> let me bring in editor in chief "the economist" john micklethwait. more than half of the economists are less optimistic about growth prospects than they were three months ago. could it take until march to get over the effects we felt from this? >> i think it can. i was one of those people who were skeptical about that and thought it was just a political crisis.
again. the jobs report did not break down the growth of the freelance economy. freelancers have been around the retail and entertainment industries - they rely on them to do business. what is new is the growth of professional firm's reliance on consultants and contractors. freelancers with technical skills and advance degrees. for the companies it's a way to save costs and freelancers - the work they do offers independence and flexibility they can't get in a staff job. freelancing can come with pitfalls, the most obvious being a lack of job security. >> you have to hustle. you can't make a name for yourself and sit at home. >> lena is part of a growing workforce of skilled freelance labour. a trained lawyer she does part-time consulting gigs for large financial services firms. >> i'm hired by different companies, financial companies, investment companies, mutual fund companies and represent them at large financial planning broker dealing meeting. >> in between she does contract work at new york city lawforms. lena has not always been a hired gun. she had a full-time staff position be
that provide for this country. if it was not for the mines and miners we would not have the economy or the country we have. we would not be the best economy in the world. they gave us dependable and affordable energy. the thing i have a hard time with is this fighting and making people understand that coal is still part of the mix. the largest part of our energy mix. do not make it more difficult. help me find the technology that would continue to clean up the environment. would've done more in the last two decades than ever before in the history. we can even do more. we like to think we have a partner. in west virginia, we think our government is working against us. i think they are, too. i am trying to get every door open that i can work with. i'm not going to sit back and not to let them know what we do and how hard we do and how much energy we provide for this country. and some the best coal in the world comes from west virginia. we do not mind heavy lifting. we will do the heavy lifting. we would like for somebody to recognize and appreciate. >> based on all of that, you're bee
economy in the world and she's going to be the chief executive officer for that for heaven's sake. we must hold her accountable. >> yes, but if she were to be fired or step down, you'd have to have a replacement in place very quickly. and that replacement would have to go through hearings in the senate. and i mean, you republicans, you would make hay on that occasion, wouldn't you? that's why i say ms. sebelius is not going to resign and she's not going to be fired. >> first of all, stuart, how can we do any worse? secondly, if the president presented someone who was qualified, had credentials and perhaps came from the private sector, knew something about the marketplace, really understand about human behavior and why people buy insurance and why they don't. i think they would fly through the senate. stuart: that's a big "if" though, if the president nominated somebody who was market oriented. >> true. stuart: congressman, we appreciate you being with us. it's going to be a big week for you and i hope you tell us what happens when you question miss sebelius. always a pleasure. mcdonald's,
they looking at the process and you can't help but over things like economy, strategy. >> some things come up in particular that friends don't spy on friends. use of intelligence is about understanding the world, and things that might happen in another country that would profoundly effect your own. if i'm a senior european official i might want to know what is going on in greece. the future of the european union as europeans know it depends on whether greece follows its austerity plan. the leaders will tell you that but not necessarily all. think about what has happened in the united states over the past 30 days. the whole debt crisis and many european leaders or other world leaders is saying is the united states going to drive over the fiscal cliff and take the global economy with it? i really do suspect in washington there are a lot of washington activities trying to answer that question. >> how surprising is this in terms of the u.s. trying to gain intel from their friends? >> it's not terribly surprising. the french are broadly known to spy on american interests, as are the germans. surel
connections. that's merrill edge and bank of america. alyou're probably thinkin'' about about fuel economy., well, you're gonna want some torque to go with it - 'cuz unless you're usin' your truck to deliver pizza's... you ain't gettin' anything done without it. torque is power. it pulls trailers. hauls dirt. drags boulders. torque is what gets the cap off your beer. and only the ford f-150 with ecoboost has the best combination of torque and fuel economy. think about that. this is the 2013 ford f-150. and only mcdonald's has freshly brewed mccafe coffee, a great tasting, signature blend made with 100% arabica beans. pair it up with a scrumptious freshly made egg mcmuffin and...there's just no stopping you. mccafe coffee and your favorite breakfast. ♪ just one more reason there's something for everyone to love at mcdonald's. ♪ ba da ba ba ba >> joe: we're in the ninth inning now. john lackey, three big outs picked up. he was the game two starter after a long night for each bull pen last night. john farrell kept him back from working before the game. he worked in the game and got throug
and elsewhere. it is an agenda right across the board to help small businesses grow our economy. >> new research shows that his government is trapping low earning parents on benefits. his benefit cap is hitting vulnerable children, stopping parents working and costing the taxpayer. isn't it time for a rethink? >> of course we know labour is against the benefit cap. they want unlimited benefits for families. they are the welfare party. and it is very clear from the question that is they ask. we think it is right to cap benefits. so that no family can earn more out of work than in work. and the evidence is showing that this is encouraging people to look for work. for a party that believes in hard-working family that's good news. presumably for the welfare party that's bad news. >> the prime minister will be aware of the business model of welsh water duke company which is not for profit and responsible to the people and not shareholders. does the prime minister agree that they will introduce real competition? >> we want more competition, whether it comes from private, cooperative or charitable ente
government that push our economy and our society forward. a country's national security, any country's national security is more dependent on the strength of its economy, and on the strength of its society than anything else. i think there's for some reason that i don't understand, john, there's been a change from a willingness of the two parties to work together to get things done to today, two parties at each other's throat. >> former cia deputy director mike morrell says the biggest threat he sees to the u.s. is washington dysfunction. that's big from a guy that was with president bush during the 9/11 attacks and citing american greed as our number one problem, outfacing our economy. what do they actually want? francis wilkinson a member of bloomberg editorial board and lays it out in his recent column, i couldn't agree with you more. when you look at governors -- republican governors specifically and getting things done, chris christie, kasic or martinez, you can name a few that are in states that president obama won, but they have high approval ratings and they know what it mean
last year's third quarter. on today's earnings quarter, we have dow and merck. as for the economy, we'll be getting industrial production numbers. pending home sales. dallas fed manufacturing survey. also, toyota talking about under the hood, keeping its top spot in auto sales rankings so far this year topping rivals gm and volkswagen. japanese car sales topping 7.4 million vehicles. that's up .1% from a year ago. strong sales in the u.s. offset slowdowns in thailand and china. joe, what's going on in washington? >>> in washington this week the redskins are probably dealing with what was a disappointing -- because they were ahead. they were ahead by two touchdowns right at the beginning of the second half and things went south quickly. so you only saw five minutes of the jets game. >> no, i know what happened. congratulations. >> thank you. i'm not looking for congratulations really. it's been a long time. people are talking about 25 years since the joe montana beat -- when the bengals got -- and i asked my kids to watch. they were watching when carson palmer's knee got blown out on t
times. then voted to shut down the government hurting kentucky's economy. mitch mcconnell can't light the house on fire and then claim credit for putting it out especially while it's still burning. >> that is a web ad from the grimes campaign. fume pyrotecpyrotechnics. >> the sub text of this ad is the games senator mcconnell is playing in washington are hurting kentuckyians. that's the message that the grimes campaign is going to try to push. at the same time senator mcconnell has a two front battle coming up in the spring. he first has a republican primary against tea partiers. this is why you see senator mcconnell his allies in washington increasingly worried about a race that people thought would be tough but fine the end. now republicans in washington are predicting how it will come out. >> we'll see if this s.a.d. precursor for 2014 democratic strategy of going after tea partiers. >> looks like they are taking that step. mike, thanks so much. >>> coming up next the founder of dead spin, will leach big cardinals fan along with mike barnacle. i can't remember who he roots for. th
valuations relative to the value of the overall economy. and you've got a number of folks that are kind of pulling the plug on some stocks. maybe a little early, but nonetheless, that gives a little warning sign. so, we think we're in a topping phase. we still have upside. we're still positive in the near term. but kind of two-handed situation. we've got good and bad and then in between the market's heading higher. >> santelli, what are you expecting from the fed this week? >> very little change. i don't see through the first quarter, maybe through the second quarter, many changes. markets will have a hard time getting a strong rally knowing tapering is probably not going to happen any time soon. when when everything is right with the world, interest rates have to normalize at some point and i think the fed outstayed their initial reservation at hotel subsidy. >> i think the world always does look better through a morphine haze, i'm told at least. rick, i want to ask you, i mentioned on twitter today how bank of america issued two different reports. one, they turned bullish on gold and
out there. what would that mean for the u.s. economy? joining me now, stew varney host of "varney & company" on the fox business network. good morning to you. >> good morning, martha. martha: a lot of people have mixed reactions to the whole thing. some people said, well, you know what, if it is delayed that could be a good thing. >> that is the case. let's suppose we delay the individual mandate for one full year, put it off for a year, or even if we enhance and extend the enrollment period, any kind of delay will be taken as good news for the economy because people, employers will be more willing to hire. you take that extra burden of higher health care costs off america's middle class. so any hint of a delay, that is it what you're getting now is positive for the overall economy. by the way, martha, the stock market will open a little bit higher this morning, a little bit higher because of these hints of, a delay in obamacare, and because the weakness in the economy now means that janet yellen and federal reserve will keep on printing dollars. you have this extraordinary positi
has tried to develop a working relationship on issues like terrorism, the global economy and now she is very upset and probably rightly so about the revelations that the u.s. has been tapping her cell phone now as far back as 2002 in the bush administration and the question is whether the president was ever briefed about this. if not, why not? why didn't he end it earlier? but the white house saying the president didn't know about it until recently and they stopped it. they're going to send a delegation here to get to the bottom of it. >> let's talk about what's happening here in washington. not everyone is angry about this. we have republican sasing these countries should be thankful. we heard from peter king earlier on meet the press saying the president should stop apologizing for these wiretaps. >> that's interesting. usually it goes along partisan lines. democrats say this does not fit the obama brand and what obama promised but republicans are saying this is part of national security. and the white house struck an interesting tone too. the president said we're going to try to r
know what's best. for example, we know we got to have a green economy. oils and fuels are the past he says, versus the fuel of the present everybody is using it. but we know that we have to get off all this stuff and create a new economy, which i have in my head and the experts have approved. and that's i think why obama care's going to collapse on its own. >> kirsten, speaking of noted liberals, elizabeth warren had this to say about the website problems. "getting people in and crucial. i know that's why it's so deeply upsetting that the government just dropped the ball on getting the website launched, but the answer is double down and get it fixed." a lot of focus here on the website, but today indicates that the substance could be a big problem. >> yeah. i think it is a problem when you have the president saying you can keep your plan if you like it. if he had said you can sort of keep your plan for double the cost, i don't think that very many people would have been excited about this. you need to actually tell people what you're going to do. grant it it is a minority. 14 million
their pedal on the metal. they're not going to stop until they feel the economy can stand on its own two feet. >> michael jones -- >> they're not going to taper. >> right. michael jones, weigh in here. how are you allocating? you agree, you want to buy stocks here? >> we believe you get the best example of how powerful the qe in terms of significant pullbacks by contrasting the last budget fiasco in 2011 with this one. we had almost a 20% plunge in the market in 2011. we had a 3%, 4% pull back this time. i think it does give you a sense as to when they're pushing the qe, it's hard to get a sustained pullback and it's perilous to fight the fed. but the market has turned from being overly concerned, this summer everyone said september, and now everyone is pushing tapering out to march, even april. i think there's a real possibility the economy sloweded because of government shutdown and rates. if we reaccelerate, tapering comes back on the table and a lot of sectors are not priced for that. >> so, you -- are you saying you want to raise cash here or short or what? >> i think the overall market,
, the global economy, and the changing nature of work. professor shakin, thank you for joining us on the program. >> let me ask you -- >> it's very nice to be here. >> let me ask you, first of all, about the bart contract and the terms being offered to union workers, including a 15.4% pay raise over four years. what do you think of the terms? good contract? >> i think it's a very good contract. it's fair to both sides. a lot of hard bargaining got us here, but it's something in which both sides can go forward and build on it in constructive ways for bart, for the public, and for each other. >> and for the first time they will be paying into their pensions 1% per year and then rising to 4% in the fourth year. also, health insurance premiums will rise from $92 to $129 a month. those sound equitable to you as well? >> they do. i think we have to put it in a bit of a context. for workers they didn't receive a wage raise over the last four years prior to negotiations, so it's a generous contract for the four years going forward, but it's also meant to pick up some lost ground where the
bernanke pledged to keep pitching money into the economy until there is solid evidence the jobs market is turning around. two economic reports could move the market today. the federal reserve will release the industrial production numbers for september. it was delayed a few weeks because of the government shutdown. the national association of realtors releases its pending home sales tax index for september. ahead of all that today, stock futures this morning are higher, traders are looking to continue last week's major streak. thanks to all earnings, all three indexes are close to record highs. the dow is near 15,600, 1% from an all time high. the s&p opening about 1760. the nasdaq is 39,043. traders overseas are waiting until u.s. data comes out. asian markets are starting strong after wall street made so much money last week. nikki gained 2%. shanghai is up a fraction. >> the biggest name on the earnings list today is apple. apple's going to let us know how much money it made this quarter after markets closed. it was showing off the ipad air, but it's the iphone bringing in most of t
for the singer. >>> and welcome back. the economy still appears to be struggling and the government shutdown did not help. a number of new report this is week are expected to show the economy struggling to gain traction. with little economic growth, the federal reserve is expected to keep holding down interest rates. >>> retail rrs counting on this week's holiday to boost sales. hall wooen spending is second to christmas. we're likely to shell out $7 billion, double what was spent eight years ago. those haunted house attractions will scare up another billion. >> that's amazing. >>> hate your job? a new study says it will get better. >> thank the lord. >> resermers have found that older workers are the happiest. 9 out of 10 people aged 50 or older are satisfied or somewhat satisfied. >> only 35 more years to go until we're happy, diane that. >> keep on hanging on. >>> an accident prone grandpa topped the box office. bad grandpa, $32 million. gravity fell to earth with 20 pbt 3 million. and captain phillips with 11.8. >>> sad news from the music world this morning. one of the fathers of rock 'n' r
to improve the economy and help consumers spend more. > >absolutely. we saw oil touch 96 last week. which actually is a very big number. it's a very big support number. if it hits down there again 92 1/2 is the next stop. > >alright, scott bauer you have a good day out there. thanks so much. > >thank you. in our cover story, barneys new york, a luxury retail clothing store is defending itself against allegations of racial profiling. the claims being made after two separate incidents that had police questioning african-american shoppers who'd just made expensive purchases. this week, the head of barneys is meeting with representatives from rev. al sharpton's national action network. barneys new york, a high-end retailer with stores across the u-s is accused of calling police to investigate purchases made by african-american shoppers. in february, 21-year-old kayla phillips was, questioned after buying a 23-hundred dollar handbag with a temporary debit card with no name on it, and in april, 19-year-old trayon christian, who bought a 350- dollar belt also with an atm card, soon found himself
to be lackluster month after month. >> well, i mean, you know, you put a real big pall on the economy. you know, the numbers are fairly weak, but the earnings are really what's driving the equity market right now. and as we know, the stock markets tell us what's happening in the future, not what's had in the past -- not what's happened in the past. they're not forecasting data points. and i think that the market and the investors are telling you we're going higher. there are a few other things that work in the marketplace currently right now that people are trying to chase performance before year end, and that's also helping. i don't think it'll be derailed by the fed this week or, you know, these blips in the data points which the government seems to manipulate when they so choose to do so. lori: all right. i mean, apple is expected to report its fourth consecutive declining year-over-year earnings. you're on to something here. i think the street is very forgiving. these are extremely weak comparison quarters for a company, so it's not taking them that much to beat prior quarters. this is the
is a little more concerned about the economy than they might have been the previous two meetings, and there was a little bit of an indication in the last meeting. as we approach the holiday buying season, i think consumers and the fed are going to be a little concerned that you're going to have much momentum going into the end of the year. connell: record highs, also for i mentioned walgreens already, colgate-palmolive, kimer by clark. -- kimberly-clark. >> thank you. dagen: children under the age of 2 are using tablets and smartphones. i don't know how i feel about that. connell: well, they just know how to do it, so i guess the question is should they have it in front of them? i know. all right, people over 50, meantime, they're the happiest people at their jobs. showing really old people in these pictures. that's fine, right? they're happy. dagen: some of these folks appear to be in their 80s. connell: we're going to be really safe with the video. [laughter] dagen: the street not getting behind best buy's stock, charles payne will tell you why. and take a look at oil prices. a
that are going get this economy growing. and that's where you hear us talking about the importance of tax reform, the importance of balancing a budget in ten years. the importance of spending reforms, spending reductions before just raising the debt ceiling. and yet on the aisle and president obama raising the debt ceiling with no conditions. a clean vote to raise the debt ceiling. and the reason we find ourselves in grid lock is because that's never going to happen. that's never going be acceptable to the republicans just to raise the debt ceiling without there being some conditions attached to that. and even president obama when he was senator and we don't need to add to the debt ceiling, add to the deficit. we need to take further action. it's easier to talk about what needs to be done versus the hard work of getting it done. so the reason we find ourselves where we are right now is because either very politically difficult decision that we have to make. it means that we're not going be able to just continue the current path that america has been spending way beyond its means for many, many y
to be a given. then, the fed showed to be pressed because the economy slowed down. the next thing you now, did you see the housing stocks last week. they were on fire. a couple of notes from home depot doing very well. gasoline, let's not underestimate the power of gasoline going down. it is kind of remarkable. a lot of good things happening away from congress, the president. i always have to say both. >> the further you get away from it, probably the better things are happening. >> let's talk about merck, excluding items that are 92 cents a share. that was ahead of wall street's forecast. revenues missed as sales of merck's diabetes drug fell. they were hurt by patent ex per rig ri expirations. i look at a note and he was questioni questioning these jenuvia franchise groeth. they believe there was a $60 million wholesale or inventor work done in the quarter. the corrective demand was probably close to 762 million with the prescription trends. >> i live in summit, new jersey. we have all been trying to figure out what the heck happened with that. $9 million taxpayer, huge amount of summit's bu
% of americans in our poll last week who said they think the economy is poor and all of the gains in the market. >> about half of americans are not invested in the stock market, they feel it 100% through the jobs. that's what the disconnect is all about. for investors, for workers who have a 401(k) in their, at their company, wow. what a great year it's been. today you have a pullback from the records last week but i want to show you, poppy, how far we have come this year. these year-to-date numbers are really, really good. the dow is up 19% this year, the nasdaq up 31%. the s&p 500, now that is the average most likely to reflect the stock portion of your 401(k), up 2%. last week we had a terrific week for some tech stocks, many of these that i'm about to show you are household names, they are widely held stocks, we'll hear more from the tech companies this week, apple reports earnings after the bell. look at amazon, google up a fraction. look at the price of the shares, above $1,000 a share. microsoft up about 2%. it was a terrific week for stocks. no surprise for me this morning you have a pu
years ago, it was double-digit growth. the amount of dollars was much smaller adding to the economy. now, you're growing at 7%, and the dollar value is very, very high. so i see tremendous growth and i don't see the slowdown. i really don't. when i visit various cities and companies in china. >> so how does the average investor, the retail investor at home play the markets you're suggesting? what's the best way for them to put their money to work? >> well, first of all you have to remember at least 30% of the global market capitalization is emerging markets. therefore they've got to look at 35% of tare portfolio in emerging markets. then don't forget frontier. i forget to mention africa is very exciting now. 3 to 4% in frontier markets as well because they're growing faster than emerging markets generally. >> you have a frontier markets fund but if people are not able to get into that, and you want to play in africa for the retail investor sometimes it's daunting, confusing. would you recommend are there etfes that can do that or better to buy say multinational corporations that are inve
is a sign of deflation. deflation. and weakness in the economy. i think the fourth straight month of declines in existing home sales could be behind that action we got the number earlier this morning. that plus an overall sense this economy is dead in the water. or will soon be because of a dearth of consumer confidence laid at the feet of washington which is only going to grow more rancorous not less as it seems to me politicians learned nothing from the most recent debacle. so many pols believe they're doing what's right for the country as consumers seem to be on hold and businesses stall here because of a horrendous partisan bickering that makes it much more appealing to do business -- guess where? overseas. on top of that, these consumer staples are huge beneficiaries of the decline of the dollar and raw costs, notably oil and gas. the estimates could be too low. lots of reasons for those stocks to keep rolling higher. we also saw the powerful tug of management execution on big stocks. today merck reported a number that looked on the surface like a nice beat. but when we went
, that brought the economy to its knees, and we've determined through our thorough investigation that there were no crimes," i don't think there was a thorough investigation. >> well, you wrote the other day that the federal judges seem to be losing patience with the banks. how so? >> there were a couple of cases that i highlighted because i thought it did show a new direction, a new sort of aggressiveness. you know, a lot of these judges -- bankruptcy judges in particular who have to see the bank's treatment of homeowners who've filed personal bankruptcy, they seem to really be getting fed up with some of the tactics that these -- the hardball tactics that the bank's litigants, you know, are doing in their courtroom. they've had to witness so many cases of banks running roughshod over borrowers whether it's by the banks not producing the documentation that proves that they own the note underlying the property, whether they produced erroneous figures about what the borrower owed. i mean, they have just seen chapter and verse over the last five years of really bad behavior by these banks. and i t
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